🔶 The United States Imposed Sanctions on 16 Individuals and 10 Companies and Entities Linked to Iran

The U.S. Treasury Department on Thursday, October 15 (October 23, 23 Mehr), sanctioned several individuals and entities linked to the Islamic Republic and added them to the OFAC sanctions list.

OFAC (Office of Foreign Assets Control) is an agency under the U.S. Treasury Department that imposes economic and commercial sanctions on non-U.S. governments, organizations, and individuals based on U.S. foreign policy objectives and programs.

According to a statement published on Thursday on the U.S. Department of the Treasury website, 16 Iranian citizens and 10 Iran-linked entities, including three banks, several money changers, and commercial companies, were sanctioned.

All of those sanctioned are Iranian, and the sanctioned entities include banks, money changers, and companies in Iran, Iraq, and Hong Kong.

OFAC, among other measures, sanctioned Iraq’s “International Development Bank for Investment and Financing” and at the same time issued a license to end transactions with this bank. “Chabahar International Bank (Overseas)” and “Qeshm International Bank,” are among the other sanctioned institutions.

According to the U.S. Treasury Department, these networks have played a role in supplying dollars, transferring oil revenues, and evading Iran’s sanctions.

The ministry, which during the past two months continuously announced the sanctioning of an array of individuals, officials, entities, and assets of Iran or linked to it, said these new measures were also carried out as part of Iran’s “economic expulsion” operation.